981 Palmer St · Rockledge, FL 32955

$285,000

4 bd · 2.0 ba · 1,718 sqft · SingleFamily public records · 7 Days on market

Built 1963 7,405 sqft lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.2/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious 4-bedroom, 2-bath home in the heart of Rockledge. Featuring a desirable split floor plan, this home offers comfortable living with a versatile bonus room--perfect for a home office, playroom, or additional living space. Enjoy the convenience of a 2-car garage and a quiet, well-maintained neighborhood. With ample space for relaxing and entertaining, this home is ready for immediate move in! Washer and dryer included.

Key facts

• Split floor plan
• Bonus room
• Quiet neighborhood

Tags

• SPLIT FLOOR PLAN
• BONUS ROOM
• QUIET NEIGHBORHOOD

Property features AI

Finance

• Other: Pets allowed; Unfurnished

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public sewer; Cable connected; Electricity connected; Sewer connected
• Home design: Single family residence; One story; Entry on level 1; North-facing
• Construction: Concrete and stucco construction; Shingle roof
• Exterior features: Storm shutters; Back yard fencing; Many trees on lot; Asphalt city street frontage

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 4 bedrooms (all on main level)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Split bedroom floor plan
• Laundry & utility: Washer and dryer in unit (lower level)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $46 ($553/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (13.2% below list).
• Recommended offer: $247k (13.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#81 in FL, #1,315 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A, commute A-; Watch: amenities F.
• Brevard (suburban): math 53% / reading 57% proficiency, ranked #19 of 73 in FL (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Golfview Elementary Magnet School (math 32% / reading 36%, grade F, #1,744 of 2,144 statewide, top 82%, 441 students, 74% FRL); Ronald Mcnair Magnet Middle School (math 58% / reading 50%, grade B-, #196 of 571 statewide, top 36%, 364 students, 58% FRL); Rockledge Senior High School (math 27% / reading 49%, grade F, #328 of 667 statewide, top 50%, 1,558 students, 50% FRL) — zoned schools average 61% FRL vs 43% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-13 pts) — the specific schools serving this property underperform the Brevard average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 321 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 34% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts; this cycle's ask is 13156% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $220k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $247,442 (13.2% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.69%
• DSCR: 1.03
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.37×
• Total profit: $-50,215
• Equity at exit: $42,494

10-year hold

• IRR: -17.5%
• Equity multiple: 0.16×
• Total profit: $-66,944
• Equity at exit: $24,642

Cash invested: $79,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32955

• Home prices YoY: -20.7%
• Rents YoY: 0.1%
• Active inventory: 321
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,474 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$295 /mo · $3,544/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $46

Break-even live

Break-even rent $2,416

Max offer price $285,000

Occupancy floor 93%

Sensitivity live

Price	-10% $207	-5% $127	+0% $46	+5% $-35	+10% $-115
Rent	-10% $-149	-5% $-52	+0% $46	+5% $144	+10% $242
Rate	-1.0pp $190	-0.5pp $119	base $46	+0.5pp $-28	+1.0pp $-103

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
944 Kentucky Ave Rockledge, FL	3.0	2.0	1236	$1,945	$1.57	21d	1	0.71mi
1147 Manatee Dr Rockledge, FL	3.0	2.0	1810	$2,095	$1.16	21d	1	0.73mi
256 Barton Blvd Rockledge, FL	3.0	1.0–2.0	1012	$2,115	$2.09	16d	23	0.79mi
1105 Santa Rosa Dr Rockledge, FL	3.0	2.0	1096	$2,000	$1.82	25d	1	0.80mi
1600 Woodland Dr Unit 1 Rockledge, FL	3.0	2.0	1426	$1,995	$1.40	16d	1	0.85mi
1001 Cascade Cir Rockledge, FL	2.0–3.0	2.0	1274	$2,065	$1.62	16d	6	0.92mi
295 Royal Tern CIR Rockledge, FL	1.0–3.0	1.0–2.0	1020	$2,467	$2.42	16d	33	1.13mi
1607 Amalfi Dr Cocoa, FL	3.0–4.0	2.0	1750	$2,619	$1.50	15d	5	1.31mi
102 Riverside Dr #806 Cocoa, FL	3.0	3.0	2019	$3,500	$1.73	25d	1	1.48mi

Listing history 6 events

1. 2026-06-22
   days on market $285,000 Active 7 DOM
2. 2026-06-18
   days on market $285,000 Active 4 DOM
3. 2026-06-17
   days on market $285,000 Active 3 DOM
4. 2026-06-16
   days on market $285,000 Active 2 DOM
5. 2026-06-15
   remarks 445-char remark
6. 2026-06-15
   listed $285,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,544 · $295/mo
• Projected year-2 tax: $3,544 · $295/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,693
• − Mortgage interest: −$15,964
• − Property taxes: −$3,544
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,375
• − Management: −$2,375
• − Depreciation: −$8,291
• Taxable loss: −$4,282
• Est. tax savings @ 24.0%: +$1,028
• After-tax cash flow: $1,581/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Brevard
• NCES district ID: 1200150
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 57% ▼ -4.00%
• Median HH income: $49,426
• Composite: 46.86/100
• National rank: #2370
• State rank: #19 of 73 in FL

Livability — Rockledge

• Score: 81/100
• State rank: #81
• US rank: #1315

Category grades

Amenities F Commute A- Cost of living B+ Crime B+ Employment B+ Housing A+ Health & safety A User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockledge, FL
• County: Brevard County · 602,871 people
• City population: 41,008
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 41,008
• Household income: $86,457
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 1273.0

Population outlook (Brevard County) Hauer SSP2

• Today (2025): 623,254 people
• By 2030: 648,420 · +4.0%
• By 2040: 690,009 · +10.7%
• By 2050: 715,669 · +14.8%
• By 2075: 775,744 · +24.5%
• By 2100: 776,687 · +24.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 9% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Slovak 3% Romanian 2% Serbian 2%
• Foreign-born: 7% · Canada, Jamaica, Mexico
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2%

Political lean MEDSL · Brevard

• 2024 margin: Strong R (+20.8) · D 39.1% · R 59.9% · Other 1.0%
• 2008→2024 swing: -10.4pp toward R · 2008: -10.4pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.4 2016: R+19.8 2012: R+12.7 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.70%
• Current HPI: 312.7435
• Rent YoY: ▲ 0.12%
• Metro: Palm Bay-Melbourne-Titusville, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-86.8% since first listed

15 events — show timeline

• 2026-06-15 Listed for Rent $2,150 SCMLS
• 2026-06-14 Listed $285,000 SCMLS
• 2026-04-30 Rental Removed $2,100 SCMLS
• 2026-04-29 Listing Removed — SCMLS
• 2026-04-01 Listed for Rent $2,100 SCMLS
• 2026-03-31 Listed $320,000 SCMLS
• 2026-03-25 Sold (Public Records) $220,000 Public Records
• 2026-03-23 Sold (MLS) $220,000 SCMLS
• 2026-03-05 Pending — SCMLS
• 2026-02-28 Price Changed $224,999 SCMLS
• 2026-01-16 Price Changed $299,000 SCMLS
• 2025-12-15 Listed $305,000 SCMLS
• 1984-05-01 Sold (Public Records) $62,900 Public Records
• 1980-10-01 Sold (Public Records) $47,500 Public Records
• 1964-02-01 Sold (Public Records) $16,300 Public Records

Property tax history

+8.0%/yr

Latest (2025): $3,544 · +3.7% YoY. Source: county tax records.